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Title: New to crypto: confused about transaction fees. Post by: Gleerok on January 17, 2018, 12:06:09 AM I bought 0.0066 ETH for 10.89 USD. I know thats a high buy price, but I chose to not wait 2 weeks for an account confirmation process in Bitstamp and went to buy directly from someone at localethereum via paypal.
I received 0.0037 after the transaction was confirmed at LocalEthereum. No idea why it cost me 0.0029 ETH to receive them on my Localethereum wallet from the seller (there is total 1% fee on this website plus ETH fees) Then I proceeded to transfer my ETH to Kucoin so I could trade in the market. I finally have 0.00289119 on my Kucoin wallet. So, transfer from LocalEtherum to Kucoin cost me 21% of the total 0.0037 amount in fees. In total, I ended up with -56% in fees (0.0066 initially bought to 0.00289119 in my trade wallet). So, from 10.89 USD in ETH I ended the process with the equivalent of 3.02 USD in ETH Is something wrong is this supposed to be this high? I read about ETH gas but I'm still new to this. Title: Re: New to crypto: confused about transaction fees. Post by: CryptoFIEND0991 on January 17, 2018, 12:08:40 AM Yeah man those fee's will eat you up. watch out for the commission fee too when trading on an exchange
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